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Wednesday, November 8, 2017

Second Serving With EV Energy Partners (EVEP)

If you've followed my blog from the beginning, you will know that I am currently still holding my one and only US stock, EV Energey Partners (EVEP) [O & G Industry]. I bought it in Apr 2015 at a high of USD 16.65 per share (even though only 250 shares), you know how the O & G Industry performed since then and yes, it has plunged more than 90% and currently sitting at USD 1.07 per share (last trading @ 08/11/2017).

I've been contemplating to average down this counter in view of the recent recovery (seemingly) of oil price as well as the O & G Industry in general. Last night, I've made the move and added another 250 shares at USD 1.15 each. So, my average price per share now is USD 8.90.

Oil Price chart (3 months)

EVEP Chart

It might be a mistake, as in I might be throwing more $ into a deteriorating stock but I am prepared to take the risk (or bet) with the long term view that the oil price (and the O & G Industry as a whole) will continue to be on the recovery route.

EVEP will be releasing their 3rd Qtr Result tomorrow (9th Nov 2017), let's see how it goes.

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